CBRE Reps Ownership of 111-115 Broadway in Lease Negotiations
CBRE announced today that Investors Bank, the banking subsidiary of Investors Bancorp, Inc. (Nasdaq: ISBC), a full-service commercial bank based in Short Hills, New Jersey, has inked a new lease at Trinity Centre at 111-115 Broadway totaling more than 14,000 sq. ft. The financial institution will be consolidating its regional offices currently located in downtown Brooklyn and midtown Manhattan to part of the 15th floor of 111 Broadway.
The CBRE team of Adam Foster and Mike Rizzo represented the ownership, Capital Properties, along with CBRE colleagues Brad Gerla and Adam Leshowitz.
“We are thrilled to be able to announce the closing of this transaction which had been tracking prior to the pandemic and took a pause for much of the summer,” said Mr. Foster, who along with Mr. Rizzo oversee leasing at Trinity Centre. “It’s a testament to the outstanding product that Capital Properties continues to deliver in this important asset.”
Capital Properties recently completed a $45 million capital improvement campaign at the complex that included complete façade restoration, new windows and an intricate LED lighting scheme.
“We are excited to welcome Investors Bank to Trinity Centre and its growing list of prestigious tenants,” said Hani Salama, Executive Vice President of Capital Properties. “We look forward to working with Investors Bank in the consolidation their New York City footprint at our newly-renovated complex.”
Patrick Dugan, Frank Liantonio and Jason Kroeger of Cushman & Wakefield represented Investors Bank.
Trinity Centre is comprised of two, 22-story office buildings totaling approximately one million sq. ft. in the Financial District of Downtown Manhattan. Constructed in 1905, the buildings are renowned as historically significant landmarks whose architectural details have been restored inside and out. Trinity Centre offers state-of-the-art infrastructure and technology, with electrical, mechanical and telecommunication systems upgraded to meet the demands of tomorrow.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
